Post by Franko10 ™ on Sept 11, 2004 12:16:35 GMT -5
Athabasca Basin Uranium Properties Update
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Mr. Dale W. Hoffman, President of JNR Resources Inc. (the "Company"), is pleased to announce that work on the Company's Athabasca Basin uranium properties is progressing.
JNR Resources' properties cover approximately 265,000 ha of ground, all of which was acquired on the basis of government assessment data and current metallogenic models for unconformity-type uranium deposits. Over the past 30 years, 18 deposits have been discovered in the Athabasca Basin, representing a combined 500-million kg of uranium. The high grade of the deposits in the region, combined with the low discovery costs (less than$2 per kg) make the Basin an extremely attractive area for uranium exploration.
Following is an update regarding a number of the properties held by the Company:
Key Lake
The highest priority target, located approximately 30km NE of the Key Lake mine, is a coherent uranium in sandstone boulder anomaly (5km long, > 4 x background) at surface. The anomaly overlies a basement structure (defined by GEOTEM) which controls U mineralization (up to 1.04% U over 4.2m) in adjacent ground held by Cameco. A Quaternary geological study will be undertaken shortly by the Saskatchewan Research Council ("SRC") to identify a proximal bedrock source. Ground geophysics will follow, after breakup, to help map alteration in the sandstone and graphitic concentrations in basement. Depending upon results, drilling is proposed to follow these surveys.
West Bear
An open file assessment compilation is being completed to utilize the wealth of public domain data in this area. These findings will be integrated with the 3 separate uranium in sandstone boulder anomalies found on the property in order to prioritize targets for ground follow up. The recently flown GEOTEM survey highlighted numerous structures cutting lower Wollaston Group basement metasediments.
Midwest
A coherent uranium in sandstone boulder anomaly (>4 x background) was defined by infill boulder sampling in 1998. From GSC airborne magnetic data, a thin wedge of metasediments is interpreted to be present below the boulder anomaly. No historical drilling has been completed in the area to verify this. A thorough review of public domain data is underway, and this will be followed by airborne geophysical survey to refine the target for drill testing.
Moore Lake
A highly anomalous uranium in sandstone boulder train lies above the edge of a diabase sill within Athabasca sandstone. Basement conductors are abundant in the area, many of which have never been drill tested.. A regional compilation of diabase chemistry is underway to ensure that the uranium anomaly is not a result of fluids interacting with the sill.
Further information of the Company's Athabasca Basin properties will be released as it becomes available.
JNR RESOURCES INC.
Per:
Dale W. Hoffman, President
The Athabasca basin in northern Saskatchewan is recognized as the most prospective uranium mining district in the world. JNR believes that their uranium prospect properties in this basin potentially host world class deposits. JNR's strategic partner, Kennecott Canada Exploration Inc. is a wholly-owned subsidiary of Rio Tinto PLC, the largest mining company in the world and a major producer of uranium.
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of the content of this News Release.
Contact: Dale W. Hoffman, President
Telephone: (604) 684-5118 Toll Free: 1-800-661-4
--------------------------------------------------------------------------------
Mr. Dale W. Hoffman, President of JNR Resources Inc. (the "Company"), is pleased to announce that work on the Company's Athabasca Basin uranium properties is progressing.
JNR Resources' properties cover approximately 265,000 ha of ground, all of which was acquired on the basis of government assessment data and current metallogenic models for unconformity-type uranium deposits. Over the past 30 years, 18 deposits have been discovered in the Athabasca Basin, representing a combined 500-million kg of uranium. The high grade of the deposits in the region, combined with the low discovery costs (less than$2 per kg) make the Basin an extremely attractive area for uranium exploration.
Following is an update regarding a number of the properties held by the Company:
Key Lake
The highest priority target, located approximately 30km NE of the Key Lake mine, is a coherent uranium in sandstone boulder anomaly (5km long, > 4 x background) at surface. The anomaly overlies a basement structure (defined by GEOTEM) which controls U mineralization (up to 1.04% U over 4.2m) in adjacent ground held by Cameco. A Quaternary geological study will be undertaken shortly by the Saskatchewan Research Council ("SRC") to identify a proximal bedrock source. Ground geophysics will follow, after breakup, to help map alteration in the sandstone and graphitic concentrations in basement. Depending upon results, drilling is proposed to follow these surveys.
West Bear
An open file assessment compilation is being completed to utilize the wealth of public domain data in this area. These findings will be integrated with the 3 separate uranium in sandstone boulder anomalies found on the property in order to prioritize targets for ground follow up. The recently flown GEOTEM survey highlighted numerous structures cutting lower Wollaston Group basement metasediments.
Midwest
A coherent uranium in sandstone boulder anomaly (>4 x background) was defined by infill boulder sampling in 1998. From GSC airborne magnetic data, a thin wedge of metasediments is interpreted to be present below the boulder anomaly. No historical drilling has been completed in the area to verify this. A thorough review of public domain data is underway, and this will be followed by airborne geophysical survey to refine the target for drill testing.
Moore Lake
A highly anomalous uranium in sandstone boulder train lies above the edge of a diabase sill within Athabasca sandstone. Basement conductors are abundant in the area, many of which have never been drill tested.. A regional compilation of diabase chemistry is underway to ensure that the uranium anomaly is not a result of fluids interacting with the sill.
Further information of the Company's Athabasca Basin properties will be released as it becomes available.
JNR RESOURCES INC.
Per:
Dale W. Hoffman, President
The Athabasca basin in northern Saskatchewan is recognized as the most prospective uranium mining district in the world. JNR believes that their uranium prospect properties in this basin potentially host world class deposits. JNR's strategic partner, Kennecott Canada Exploration Inc. is a wholly-owned subsidiary of Rio Tinto PLC, the largest mining company in the world and a major producer of uranium.
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of the content of this News Release.
Contact: Dale W. Hoffman, President
Telephone: (604) 684-5118 Toll Free: 1-800-661-4